Trending tickers: Boeing, Adobe, Exxon, Oracle and Novo Nordisk
The incident involved a Boeing 787-8 Dreamliner that had been in service since 2014. The aircraft, carrying 242 passengers and crew, crashed shortly after takeoff from Ahmedabad, India, en route to London Gatwick.
While the cause of the crash is still under investigation, analysts noted the aircraft's historically strong safety record.
'The crash represents the first fatal accident involving a 787 since the type entered service in September 2011,' said Jefferies (JEF) analyst Sheila Kahyaoglu.
Read more: FTSE 100 LIVE: Stocks drop and oil prices soars as Israel strikes Iran in major escalation
Despite this, the 787's entry into service was marked by early technical issues, including a spate of battery-related incidents in 2013 that led to a temporary global grounding of the model. The aircraft has since maintained a robust operational record.
Boeing (BA) has spent much of the past year attempting to restore its reputation amid a series of safety and quality control issues, namely its 737 MAX programme.
'Considering the long safety record of the 787 aircraft, investors view the market pullback of Boeing's (BA) stock as overdone as the 737 MAX production rates improve,' said Kristine Liwag, an analyst at Morgan Stanley (MS).
Shares in Adobe (ADBE) fell 1.9% ahead of the US market opening after the company reported earnings that did not convince investors.
The digital media and marketing software firm earned an adjusted $5.06 a share on sales of $5.87bn in the quarter ended May 30. Analysts polled by FactSet had expected Adobe (ADBE) to earn $4.97 a share on sales of $5.8bn. On a year-over-year basis, Adobe earnings rose 13% while sales increased 11%.
Looking ahead, Adobe (ADBE) raised its full-year revenue forecast for fiscal 2025 to a range of $23.5bn to $23.6bn, slightly above its previous guidance of $23.3bn to $23.55bn. The company also raised its adjusted profit outlook, now projecting earnings between $20.50 and $20.70 per share, up from its previous range of $20.20 to $20.50.
Excluding items, it raised its full-year profit to between $20.50 and $20.70 per share, from its prior range of $20.20 to $20.50 each.
"We continue to invest in AI innovation across our customer groups to enhance value realization and expand the universe of customers we serve," finance chief Dan Durn said.
The company's stock faced a backdrop of "very negative investor sentiment," according to Mizuho Securities analyst Gregg Moskowitz. In a report, Moskowitz described Adobe's (ADBE) stock performance as "frustrating" over the past year.
However, he noted that Adobe was starting to "meaningfully monetise its generative AI innovations" and that an upcoming price increase could provide an additional boost. Moskowitz rates Adobe (ADBE) as an "outperform" with a price target of $575.
The company, an industry veteran in the creative software market, is known for flagship products such as Photoshop and Premiere Pro.
Shares in oil supermajors rose on Friday, with Exxon (XOM) up 3% ahead of the US market open, likely driven by expectations that a sharp increase in oil prices will bolster their profits.
The surge came after Israel launched a series of airstrikes in Iran, killing the head of its army and significantly escalating tensions in the Middle East. The move raised fears of a broader conflict in the region, which sent oil prices soaring.
Brent (BZ=F) crude jumped as much as 13%, surpassing $78 a barrel, marking its largest intraday gain since the early days of the Ukraine war in March 2022. This spike in prices fuelled growing uncertainty across global markets.
Read more: Gold hits nearly two-month high as Israel attack spurs safe-haven demand
Warren Patterson, an analyst at (ING), noted that the market has once again entered an environment of heightened geopolitical risk. "We are back in an environment of heightened geopolitical uncertainty, leaving the oil market on tenterhooks and requiring it to start pricing in a larger risk premium for any potential supply disruptions," Patterson said.
Shares in Oracle (ORCL) were in correction territory in pre-market trading, down 1.6%, after surging to an all-time high on strong earnings.
The enterprise software giant saw its stock soar 13.3% on Thursday, the largest gain of any S&P 500 (^GSPC) company, after reporting better-than-expected quarterly sales and profits. Oracle's (ORCL) cloud infrastructure revenue surged 52% year-over-year to $3bn, prompting the company to forecast growth in the segment will exceed 70% by fiscal 2026. Following the upbeat outlook, analysts at Deutsche Bank (DBK.DE) and KeyBanc raised their price targets on Oracle shares.
During intraday trading, Oracle's stock briefly touched an all-time high of $202.44.
For the quarter, Oracle (ORCL) reported adjusted revenue of $15.9bn, surpassing the $15.6bn analysts had expected. Earnings per share also exceeded forecasts, coming in at $1.70 compared to the expected $1.64. The company raised its annual revenue forecast, driven by strong demand for its AI-powered cloud services.
"What is clear is that more customers will use the Oracle (ORCL) database to leverage AI," CEO Safra Ada Catz told analysts.
Catz said she expects the company's fiscal year 2026 revenue to hit 'at least $67bn" – up from the prior guidance of $66bn.
Novo Nordisk (NOVO-B.CO, NVO) has once again become Europe's most valuable company, rising above German software firm SAP (SAP) on Friday, after a rally in its shares lifted the Danish drugmaker's market capitalisation to $367.91bn.
The company's shares rose as much as 2.4% after it said it would advance its experimental weight-loss drug, amycretin, into late-stage clinical trials, following encouraging feedback from regulators.
Stocks: Create your watchlist and portfolio
Novo Nordisk (NOVO-B.CO, NVO), which specialises in diabetes and obesity medicines, has faced a volatile year since hitting an all-time high in June 2024. Disappointing clinical results from obesity drug trials and growing pressure from US competitor Eli Lilly (LLY) have weighed on investor sentiment. Last month, the company announced it would replace long-serving chief executive Lars Fruergaard Jørgensen.
Investor interest was reignited this week following a Financial Times report that London-based activist hedge fund Parvus Asset Management has built a stake in the company. The fund is reportedly seeking to influence the selection of Novo's (NOVO-B.CO, NVO) next chief executive.
ASML (ASML), the Dutch chipmaking equipment company, ranks third among Europe's largest listed firms by market value.Sign in to access your portfolio
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These moves suggests the bond markets are relieved that the PM is standing by Reeves, easing concerns that a new chancellor might be less committed to the current fiscal rules. Asian shares were mixed overnight as investors braced for a key US jobs report and waited on the passage of US president Donald Trump's tax cutting bill in Congress. The Nikkei (^N225) rose almost 0.1% on the day in Japan, while the Hang Seng (^HSI) fell 0.8% in Hong Kong. The Shanghai Composite ( was 0.2% up by the end of the session as data showed China's services activity expanded at the slowest pace in nine months in June. In South Korea, the Kospi (^KS11) added 1.3% on the day despite president Lee Jae Myung saying that tariff negotiations were looking difficult and that he cannot confirm if talks can conclude by next Tuesday. Across the pond on Wall Street, US stocks climbed overnight to close at new record highs after president Donald Trump announced that the US has struck a trade deal with Vietnam, including a 20% tariff on exports to America. That is lower than the 46% tariff that had been threatened, but still much higher than previous rates. Vietnamese shares rose to their highest since April 2022. The local dong currency, however, dipped to a record low of 26,229 per dollar. The Dow Jones (^DJI) closed flat at 44,484.42, the S&P 500 (^GSPC) rose 0.5%, finishing at 6,227.42, and the tech-heavy Nasdaq (^IXIC) rose 0.9% to end at 20,393.13. In the bond market, the yield on benchmark 10-year US Treasury notes rose to 4.284% from 4.251% on Tuesday night. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have US data releases including the jobs report for June, the ISM services index for June, the weekly initial jobless claims, as well as the trade balance and factory orders for May. Otherwise we'll get the final services and composite PMIs for June in the US and Europe. From central banks, we'll hear from the Fed's Bostic, and the ECB will publish the account of their June meeting. Here's a quick snapshot at what's on the agenda: 7am: Trading updates: Currys, Watches of Switzerland 9.30am: UK service sector PMI for June 10am: OECD Economic Survey of the European Union and Euro Area 1.30pm: US non farm payrolls, employment report for June
